ITR Form have been released by the Income Tax Department for Financial Year 2014-15 i.e. Assessment Year 2015-16. now, confusion amongst the common people is Which Income Tax Return Form (ITR) should I submit? There are different ITR Forms (Income Tax Forms) for Different categories of taxpayers and the same has been explained below.
- Each type of ITRForm is in 3 Formats
- Excel Utility,
- Java ITR Utility
- PDF File.
Taxpayers opting for efiling of Income Tax Returns are requested to use the Java ITR Utility or the Excel Utility and taxpayers opting for Physical Filing of ITR shall download and print the PDF File and physically submit the same after completing all relevant particulars.
No Document (eg: Form 16 / Form 16A/ Form 16B/ Form 26AS etc) is required to be attached with the ITR. In case the taxpayer is filing the Income Tax Returns online without using Digital Signature, the taxpayer shall take a print of ITR-V, duly sign the same and send to the following address within 120 days of filing the Income Tax Return Online by ordinary post to “Post Bag No. 1, Electronic City Office, Bangaluru – 560100, Karnataka.
A taxpayer having a Aadhar Card is not required to send ITR-V Acknowledgement to the above mentioned office. He is only required to e-verify the Aadhar Card Number on the Income Tax Department’s e-filing site.
The following are the different types of ITR Forms which can be filed by a taxpayer, depending on his type of income
Types of ITR forms are as per below (for Individual)
- ITR 1
- ITR 2A
- ITR 2
- ITR 4
- ITR 4S
Which Income tax return/ITR form should I use to file my Income Tax return?
This is always a frequently asked question by many taxpayers “Which Income Tax Return Form (ITR) should I submit?” and due to the technical wording of Rule-12 it is not easy for the common man to select appropriate ITR form. So to simplify the things, we have prepared a short article for assessment year 2015-16 (FY 2014-15).
Please read the next article for more information.